What is the best way to sell buy-to-let property?

With inflation at a 40 year high, interest rates are at a 13 year high, a lot of landlords are planning to sell some properties in their portfolios to use the equity tied into them to pay off the mortgages on other properties to avoid further rises but selling buy-to-let property can be a very slow process.

So what options do landlords have to sell rental properties?

The High Street Options

Sell Buy–to–let Properties with Vacant Possession

The main advantage of this option is an uncompromised selling price but be prepared to spend a lot of time and money (especially if legal action and bailiffs are required) to provide vacant possession which will affect the ‘walk away’ funds available after agency fees and legal costs are deducted.

Sell Buy–to–let Properties with Tenants in Situ

The advantage of this option (if tenants cooperate) is less VOID time than selling with vacant possession while the disadvantages are the added complications and higher risks of the sale collapsing.

Most investors will not pay full market value for a property so sellers should expect to accept an offer in the region of 85 – 95% of the market value and legal costs will be higher than routine sales.

Estate agents do not collect information about tenants so sellers will need to provide buyers with the information themselves or allocate the role to someone else.

Alternative Options – Landlord Sales Agency

Landlord Sales Agency sell buy–to–let properties with vacant possession or tenants in situ.

• They manage the process with less disruption to tenants
• They manage the process with minimal seller involvement
• They sell properties as individual lots or as portfolios
• They have buyers who will make an offer without even viewing properties due to the legal safeguards Landlord Sales Agency put in place to ensure the data they collect is reliable
• They secure all offers as soon as they are accepted to ensure buyers do not try to renegotiate later in the process and fewer sales collapse
• They sell individual properties and portfolios ranging from £100,000 – £10M
• They sell and complete fast (typically 12 – 16 weeks or slightly longer depending on the circumstances)

Sellers typically receive between 80 – 90% of the property value, depending on the number of tenancies and the complexity of the sale. They pay up to £720 (inc VAT) towards legal costs so in most cases, the amount sellers receive is their walk away figure.

David Coughlin founder and CEO of Landlord Sales Agency said,

“We’re all about delivering speed, efficiency, and exceptional customer service. With the rise in popularity of HMOs in the last 10 years, landlords are now finding it more and more difficult to sell ex rental properties with vacant possession without having to wait years for multiple tenancies to end. The simple and obvious answer is to sell to other investors who see established and trusted tenants as a bonus, not a problem.

We recently paid £2.3m into a client’s bank just 16 weeks after listing her tenanted, 23 property portfolio. We sold it and completed in less than 16 weeks.”

Contact us now to find out how we can help you sell your portfolio fast.

Contact us

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